Whyte has threatened legal action against Green and former Rangers director Imran Ahmad - demanding £1million a year for life or 25 per cent of the Ibrox chief executive's shares. Whyte, whose own Rangers takeover remains the subject of a police inquiry, claims he was the main driver behind the Sevco 5088 company which purchased the assets and business of the company he had put into administration.
Days later Green transferred the assets - which were bought for £5.5million in June last year - to a different company called Sevco Scotland, which then became The Rangers Football Club. Whyte's main argument appears to be that such a transfer was illegal and he remains the rightful owner of the club's assets.
Rangers manager Ally McCoist has called for Green to give fans answers over the claims and his boss attempted to oblige in a lengthy statement which hit out at Whyte, who was declared unfit to hold a position in football by the Scottish Football Association.
Green had always claimed he had met Whyte to secure a deal to acquire his shares for £2 before his group were named preferred bidders for the administration-hit club in May last year. The shares later proved irrelevant as an offer to creditors was rejected, prompting the re-launch of Rangers as a new company.
On Friday night he insisted he was not Whyte's "front man" and continued to claim that Ahmad had fed the former Rangers chairman the information he wanted to hear in order to secure the shares, if needed.
Green described Whyte's comments as "distorted and malicious allegations coming from a man who is completely discredited and now under police investigation".
He added: "So, of course there were discussions and agreements with regard to his shares and debenture release. There has never been any attempt to deny or disguise that.
"However, it must be stressed that no matter what Mr Whyte believes there was never any possibility of him being involved with us in the ownership of this club. And there was most certainly never any intention to pay him anything. He claims I was his front man. He could not be more wrong. With 8%, I am the major shareholder in Rangers FC and I have no tie-in of any kind with Mr Whyte.
"He has no right to any claim on Rangers FC, its shares or assets. It is alleged there is a letter which agrees Mr Whyte and a business partner of his, Aidan Earley, would have a majority shareholding in Sevco 5088. If there is it wasn't signed or endorsed by me."